BRT Apartments Corp (NYSE:BRT) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 83,400 shares, an increase of 23.0% from the May 30th total of 67,800 shares. Based on an average daily volume of 23,500 shares, the short-interest ratio is presently 3.5 days. Currently, 0.9% of the company’s stock are sold short.
Several institutional investors and hedge funds have recently modified their holdings of BRT. BlackRock Inc. raised its stake in BRT Apartments by 5.3% in the 4th quarter. BlackRock Inc. now owns 856,362 shares of the financial services provider’s stock worth $9,798,000 after acquiring an additional 43,368 shares during the last quarter. Geode Capital Management LLC raised its stake in BRT Apartments by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 259,746 shares of the financial services provider’s stock worth $2,971,000 after acquiring an additional 5,749 shares during the last quarter. Bank of New York Mellon Corp raised its stake in BRT Apartments by 25.8% in the 4th quarter. Bank of New York Mellon Corp now owns 137,719 shares of the financial services provider’s stock worth $1,576,000 after acquiring an additional 28,275 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in BRT Apartments by 18.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 129,000 shares of the financial services provider’s stock worth $1,791,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Albert D Mason Inc. raised its stake in BRT Apartments by 2.6% in the 1st quarter. Albert D Mason Inc. now owns 128,735 shares of the financial services provider’s stock worth $1,787,000 after acquiring an additional 3,255 shares during the last quarter. Hedge funds and other institutional investors own 31.38% of the company’s stock.
Shares of BRT traded up $0.11 during midday trading on Friday, hitting $13.61. 15,300 shares of the company’s stock traded hands, compared to its average volume of 24,727. BRT Apartments has a 1 year low of $10.91 and a 1 year high of $14.35. The company’s fifty day moving average is $13.08. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.96. The firm has a market cap of $217.89 million, a PE ratio of 14.03 and a beta of 0.74.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 25th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $0.80 annualized dividend and a dividend yield of 5.88%. BRT Apartments’s dividend payout ratio is presently 82.47%.
Several brokerages have recently commented on BRT. Zacks Investment Research lowered IQIYI from a “hold” rating to a “sell” rating in a report on Friday, March 29th. DA Davidson began coverage on BRT Apartments in a report on Thursday, March 28th. They set a “buy” rating and a $16.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $14.75.
BRT Apartments Company Profile
BRT is a real estate investment trust that owns, operates and develops multi-family properties. Interested parties are urged to review the Form 10-Q filed with the Securities and Exchange Commission for the quarter ended December 31, 2018 and the supplemental disclosures regarding the quarter on the investor relations section of the Company's website.
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